In a latest Bloomberg interview, Trump’s White House crypto czar, David Sacks stated that the XRP, Solana (SOL), and Cardano (ADA) were only mentioned in Donald Trump’s crypto reserve announcement just because they were in top-five cryptocurrencies by market cap.
“The president just mentioned the top five cryptocurrencies by market cap, so I think people are reading into this a little bit too much,” Sacks said, “He just mentioned the top five.”
Since the crypto reserve post, many people in the crypto industry were skeptical on adding ADA, SOL and XRP in the reserve besides BTC and ETH.
With his latest statement, Sacks clarified that there was no specific endorsement or strategy behind including these assets in the announcement.
Moreover, Sacks said that they are not sure which crypto assets the federal government owns but they have pushed for a full audit of the assets “We know it owns Bitcoin. I believe it owns some Ethereum. I’m not sure about the other ones. No one’s been able to give us a straight answer yet,” he said.
While Sack says Trump added it just because they are on top, the price of all three assets spiked to skyhigh price with ADA pumping over 70% on Sunday. The crypto community is now bashing Trump and Sacks for falsely stating and not clarifying full view on the crypto strategic reserve.
Following Sack’s clarification, the price ADA and XRP went down nearly 5% instantly.
